Combine first 4 ingredients in a large bowl; beat at medium speed with an electric mixer until light and fluffy. Add eggs, 1 at a time, beating until blended.
Combine flour and next 3 ingredients; add to butter mixture, stirring until blended. Fold in nuts and chocolate morsels.
Divide dough in half, and shape each dough portion into a 10- x 2-inch log on a lightly greased baking sheet.
Bake at 350° for 25 minutes or until firm. Cool on baking sheet 5 minutes. Remove to wire racks to cool completely.
Cut each log diagonally into 1/2-inch-thick slices with a serrated knife using a gentle sawing motion, and place slices on ungreased baking sheets.
Bake slices at 350° for 10 minutes; turn cookies over, and bake 10 additional minutes. Remove cookies to wire racks to cool completely.
Dip 1 side of each cookie into candy coating; chill until set.